Ener1's $30 million credit to fund operations through 2009

SteveGelsi

NEW YORK (MarketWatch) -- Ener1
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said Tuesday it secured $30 million in credit to allow it to continue operations until 2010 as the lithium-ion battery maker gears up for a contract to supply systems to Think electric vehicles in Oslo, Norway. "The environment for automotive suppliers and manufacturers has reached a nadir," the New York company said. "However, demand to supply advanced battery systems for the dozens of hybrid and electric vehicle programs already committed to by the world's automakers will remain healthy and robust."

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